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Search Results 0 to 49 of about 57 (some duplicates have been removed)
to handle the economy, mr. romney leads by three. on the deficit, mr. romney leads by nine. on all of these issues, that's the one on which he has the strongest trust from voters as compared with president obama. and that confidence in mr. romney on the deficit turns up not just in the nbc/"wall street journal" poll, but in a lot of national polls. even though he hasn't given a lot of details as to how he would handle the deficit as an issue. the bottom line, there's no question as to who you would rather be here, right? you would rather be president obama than mitt romney looking at these numbers. that plus 19 advantage that the president has on looking out for the middle class, that is a death nail for mr. romney's campaign if he cannot turn that around. but i think looking ahead to tonight's debate, there is a real opportunity in the huge disconnect in the electorate, in a way that reflects a real risk for president obama. there's this huge disconnect between mr. obama's best number with voters and one of his worst numbers. which is that president obama has so far not been able
with a deficit of more of 7% of gross domestic product, any solution to our budgetary problems has to involve spending cuts and tax increases. ronald reagan agreed to tax increases when it hit 4%. george w. bush did when it was 3% of gdp. but today's republican party is organized around the proposition that no matter the circumstances, there must never be a tax increase of any kind. the simpson-bowles proposal calls for $1 for every $3 of spending cut bus every republican presidential candidate during the primaries including romney pledge thad he or she would not accept $10 of spending cuts if that meant $1 of tax increases. so romney could present a serious economic plan with numbers that add up and then he would face a revolt within his own party. so his solution has been to be utterly vague about how to deal with the actually deficit. when pressed for details, he said, the devil's in the details. he's right. were he to get specific he would be committing ideological blasphemy. instead he talks about freedom and capitalism. the same pattern emerges on immigration. he says he wanted to solve
the math work on his deficit plan and his tax plan. are we going to get those details in the course of the debate? >> well, you know, david, i wish you guys were just as tough on the president. the president says he's going to create a million new manufacturing jobs. he doesn't say how. he says he's going to reduce the long-term debt and deficit by $4 trillion. doesn't say how he's going to do it. you know, let's be fair here. governor romney has laid out a direction and a vision for the direction of this country. he's not an accountant. he's not going to go line by line as much as you'd like him to do through the budget. but let's hold the president to the same standard and criticize him as well. >>> good morning, it is monday, october 1st. it's october, everybody. welcome to "morning joe." >> yeah, you know who's glad september's over? >> who? >> the jets. holy cow! >> i thought you were going to say mitt romney. with us on set, we have msnbc and "time" senior political editor mark halperin and national affairs editor for "new york" magazine john heilemann. guys. hi, willie. >> he
, then there's no way we're going to deal with a $16 trillion debt and $1 trillion a year deficit. >> medicare, medicaid, social security. fe forget about that. >> this is a no-brainer. first of all, look on your cell phone bill with the tliline tha says universal service fund or fee. you're paying for this. you need to call your member of congress, your senators, call anybody you can and tell them to get on board with killing this program. i have been shocked at how hard it's been to convince people. a lot of that's because people don't know. but you're helping educate them. >> on the cell phone, it says universal fee, universal services fee. that's the cost that taxpayers are paying so that low-income folks can get these phones. that's what we should be looking for. just to be clear, they're not just getting a free phone, but free service. >> it's the service. what happens is the government pays the service and the phones are often given by the provider. that's right. >> all right, congressman. great to have you on the program. we'll be watching this developing story. really an extraordinary
be created in the coming months. that of course is a really big thing. more jobs will slash that deficit. >>> our third story, another day, another bad set of numbers for mitt romney. there are two new polls today by the american research group and they have mitt romney trailing president obama in two more swing states. five points in new hampshire and two in virginia. although i wanted to highlight the virginia one. there had been other polls to show that gap wider. this would be a much better than expected result than some of the others we've seen. this week -- has not been kind to the republican candidate as polls have shown him falling behind the president. but he is not showing any change in confident. >> i've got a little secret here and that is that obama campaign thinks that pennsylvania is in their pocket. they don't need to worry about it. and you're right and they're wrong. we're going to win pennsylvania. we're going to take the white house. >> he's going to have to overcome a big deficit to do it, but people do like a comeback kid. max, jen, the obama campaign press secretar
to start talking about the issues. they're going to start talking about the economy. why the deficit's been above $1 trillion now four years running, and maybe if the moderators get into it, what's happening in the middle east, and what they think they can do about it. i think that governor romney's plan's going to be to try to stick to the substance because i think the country knows we need a change. >> i'm only half joking about kicking out of the room. metaphorically, a lot of republicans want to see mitt romney do just that to the president. they want to see him verbally beat him up and make the points that you've made crystal clear and win the argument. but there's another argument that says that one of mitt romney's problems is he's not likeable enough and he may need to turn on the kind of easy ronald reagan charm which he deployed so successfully in debate. it's a fine line, isn't it, between being hard and aggressive and making a point, but also coming over as likeable. >> right. and piers, really, the way to deal with that, and i think this is true for any debate but especially on
a budget come out that continues to bring the deficit down to sustainable levels. europe has pledged to work in partnership with spain to make sure its banks get recapitalized and continue to afford a access the markets. we will see as they work in the partnerships the days ahead again, they have the tools and we see the political will on the part of the spanish go >> you watch spain, you just got back from china. i have a bunch of questions about china, stories in the paper, lael, in china is the first question, the second question is the republican nominee, mitt romney, has accused the obama administration of not being tough enough on china. the third question you have a report coming out october 15th on whether china is a currency manipulator. what are you going to say? >> well, let me just start with your first question. china's leadership team is undergoing a transition process and confront important questions how they are going to take forward their economic policy. steve, as you know, since day one, president obama's been extremely focused on achieving a more balanced relation
democrat bonn the president's deficit reduction committee with alan simpson and pretty good and we should point out he is there too but the president ignored a lot of his -- [talking over each other] >> he is seen as a guy who can bring democrats and republicans like him. the other guy out there whose name is bounced around and bounced around for four years is the ceo of black rock. i consider him a friend. the upside to larry is clearly there is no smarter guy on wall street that i know. he saw between trading and an entrepreneur. and associated -- the obama administration -- there's a european financial crisis, he understands financial instruments, and erskine bowles is a different dynamic. really going to do that. you want to make a deal with republicans and he is the guy to do it but larry as different depending on how you approach it. the wall street firms are going around. with larry taking the job, and natural successor at black rock. i just -- maybe he does. melissa: such a massive pay cut. [talking over each other] charlie: erskine bowles is no stranger to wall street. melissa: t
. deficit larry mean that is you are spending more than you are taking in. there are two things that you can do. you have to look at the spending to determine what you have to hold on. you have to set a priority to control spending. in the second thing you must have a program to increase growth in this country and new revenue. that makes a lot of the decisions about spending easier. you get more money coming in. >> president, you have been accused by your critics of failing to deal with entitlement spending reform and basically trying to raise taxes as the only means of deficit spending. are those charges fair? >> absolutely not. we had a deal going. myself and mr. baynor until mr. can toter stepped in. what i could support is that we would have tax cuts and we would have cuts in the budget and in areas certain revenues and increased ed in taxes. it seems fair $1 of tax increases and $3 to $4 of cuts in the budget. >> 3, to $4 to $1. could you guy into that? do you think your fellow republicans could buy into that? >> the more taxes you raise, the less growth you get. that is a economic pro
? >> it's been very damaging. we have seen a trade deficit explode. take auto parts. ten years ago, the trade deficit was $1 billion with china on auto parts. today it's $10 billion. that's why the president at the urging of a number of us, they have taken china to the world trade organization to show china is cheating and to ask for tariffs to protect american companies and to protect american workers. and we're seeing a pattern of the government finally on the side of workers, finally on the side of american manufacturing, standing up for american workers against china. we have a new steel mill. we're seeing jobs actually come to this country or stay in this country because we're standing up and enforcing trade rules. >> romney and the republicans keep talking about another tax cut for the job creators. don't we just see them increasing their profits by outsourcing this way? i mean, the model that romney wants to lay on the country, how could it be good for workers in ohio? >> well, it's not. we tried these tax cuts for the rich. hoping it trickles down to the middle class, it do
the deficit among likely voters for obama from five points to three points. and in florida, he's closed from five down to one which is tied given the margin of error in our poll. in virginia, he has closed the gap from five to two. if you look at the state of ohio, a must-win state for mitt romney, mathematically possible for him to get to it without it but his strategists think he needs it. he needs to make progress there. but the fact that some of the national polls are coming back a little bit, some of the swing state polls are tightening, is a bit of an earn couragement for romney that he still has an opportunity for deficit with three or four points to change the dynamic in some way. he's got to hope that obama is not on his best game. you could have a scenario that like what happened in 2000 where george w. bush moved significantly without gore and ultimately became president. >> it's interesting that the poll also shows, as you mention, this 12% of swingable votes in the middle that he could potentially get a hold of. also ensuring that the big money continues to back him moving forwa
teachers and expand student aid and beef up public unions, sure. cut the deficit and raise the tax rates on upper incomes of successful businesses, guess what it has not worked so far. if it was going to work, it would have already worked. so is this really obama's version of economic patriotism? let's talk. here's jimmy william and cnbc contributor of the american enterprise institute. what is so bloody patriotic about tax hikes, spending increases, regulatory increases and a lousy, worst economy since 1947? >> i'm worried what we will see in 2013 if the president wins is an economic patriot act. and part of it will be dramatically higher taxes on wealthier americans, entrepreneurs. anyone who thinks the end of the obama tax hikes are going to be raising it back to the clinton levels are crazy. you are going to see surtaxes, surtaxes on corporations. there's no way the obama spending numbers work without dramatically higher taxes far above what we saw in the clinton years. >> one of these things has my goat. obama talks about cutting tuition, you can't cut tuition if you expand student
. we wanted a menu of thoughtful choices to reduce our deficit and avoid sequestration. >> go through it for us. because, you know, i guess if it were that easy, it would have been a lot simpler getting to the point where we're at. can you talk to us specifics about what you think should be cut? >> sure. that's what we wanted to do in this report. it's more than $100 billion in agriculture, more than $100 billion in energy, and as i said, in agriculture, commodity crop payments, reforming crop insurance. in energy, we'd like to eliminate the entire tight. 17 loan guarantee program which includes the loan guarantee, you know, the program that brought you solyndra. we'd like to eliminate subsidies that have gone to the oldest and most profitable energy sectors, from the intangible drilling costs to the allowance for last in, first out accounting which actually affects more than the energy sector, but it's just a boondoggle for taxpayers in the u.s. it's not something that's allowed by international accounting stanstandards. in the defense sector, there's a real opportunity for savings b
's the question. of course everybody wants a tax cut, but if it's not going to cause bigger deficits, tell us how you're going to do it, and they won't do it. they won't say we're going to get rid of charitable deductions, won't get rid of homeowner, state and local. that's where all the money is. it's not little doodads here. joan, you take this one. he won't tell us. same question comes up wednesday night, can romney dodgeball it? can he say i'm not telling you how i'm going to do the major thing i promised to do, get the economy going through a tax cut, but i'm not going to tell you how i'm going to do it. can he get away with it with even the -- >> i hope not. i think this is a moment for jim lehrer to be very tough, respectful tough, and for president obama to come back at him and to say, look, i'm happy to see -- your running mate said he didn't have enough time on sunday. that's too bad. that's terrible, in fact. i'm willing to cede, governor romney -- >> could jim lehrer get away with simply saying, i have a little liberty here, a little leeway, i will give you all the time it takes. tell
'm sure you didn't miss it. 15-point deficit for mitt romney. i'm guessing you'll argue with some parts. >> i'm not going to argue with it at all. do you really believe it's right? let me test your political wisdom. do you think it's possible for that to be right? you know it's a piece of garb e garbage? >> this is a good pollster, but you can argue that it's not 15%. do you believe mitt romney is behind in new hampshire? >> no, i believe it's head to head in new hampshire. and i've seen enough other polls to tell you that is a piece of garbage. this race in new hampshire will be won by mitt romney by two to three points. i'm willing to say that publically and stick by it and i know that it that poll of 15 points is absolutely invalid. >> every sort of professional poll i have seen of campaigns, though, all seem to have barack obama ahead and the big issue in new hampshire has been the gender gap with moderate women who may be the republicans fiscally but uncomfortable on social issues. you have had to navigate that before. that's always an issue for new hampshire republicans. how does
plan would probably explode the budget deficit. it's not a fiscally responsible plan. >> isn't it true, chris, that he has said he needs to work with congress in terms of going into the specifics of what those loopholes are? >> well, that's true. ultima ultimately, congress, in particular the house ways and means committee, would ultima ultimately write any major tax reform plan. my problem here is tax reform is supposed to be about simplification. i think romney's $17,000 cap would complex complex if i the . that would add a whole bunch of new leans to the 1040, which would make the code more complex. i think we should go to something like the paul ryan house plan he introduced a couple years ago which would eliminate virtually all deductions and credits and use the money to simplify the tax structure down to 10 and 25%. romney needs to be more bold here. his running mate has the bold ideas for tax reform. that's where we should be going here. >> you know, we've had various members of the house ways and means committee on this program in the last six months. almost to the person they
. >> $80 billion? >> it's like 80 build per year. and we need to cut -- close the deficit by a trillion. we got a trillion dollar deficit and it raises like -- i think it's less. maybe 40 billion. >> are you correct, it's not sufficient. >> and he's not talking about anything else. you can keep your entitlement, keep this -- he's not talking about doing specific things with entitlements. >> you're right to this extent. he's not talking specifics on entitlements. >> it's mostly we'll tax rich people so that -- or people that make over 250 and you'll basically get to keep everything including the phones. >> joe, i thought you either wanted to talk about the last minute kick that a billy -- >> i didn't see that. oh, the redskins. >> or my terrific story on debates in the "new york times" this morning. >> it was between piece. it was a very good piece. >> i did see that. >> thank you. let me recap. >> you didn't even mention the bengals beat the redskins. >> i was going to if you brought it up. and congratses on the reds, too. they have tied the nationals for best record in baseball. so we've g
leads according to our poll, on unemployment and the deficit. let me ask you this, ben, because one thing our viewers may assume is that democratic base is now energized and the convention is now partly responsible for that. rece recently, jim -- our new poll, how do you feel strength of support, 72% of voters are strongly excited. that's a virtual tie and extremely or very enthusiastic about voting in november, 65% of republicans. 64% of democrats. does that worry you? in '08, part of the reason the president won was his people were way more enthusiastic than john mccain's. >> we heard enthusiasm on the republicans side last year and now it's down to turn out. people are voting right now. today. they're starting to vote tomorrow this ohio. our supporters are camped out at polling places and thousands more democrats voted in iowa last week than republicans. that's the way we've built this organization on the ground for the past 500 days. we're ip venvesting in a ground organization. >> we'll hit pause there, but going to be talking a lot to both of you in the next 30 some odd days a
looking at it with regard to krugman's piece and something to do with the deficit, is that going to be spun positively if they're working on it or more fearmongering that something really heinous will go down. >> okay. so keep sticking with what's working for now. we'll keep an eye on this. but kevin, thank you. you always keep us up-to-date on everything happening down there. >> one more quick thing i'll say. watch silver. a lot of popularity in it. we didn't get an outright sell signal, but we got very bearish divergences for silver when it made a new high yesterday. trading over $41 on ebay for silver coins. well over the price in the marketplace. so watch out for that. could be an actionable trade. >> okay, kevin. thanks for the tip. >>> if you have any questions, comments about anything you see here, squawk@cnbc.com. coming up, the chicago teachers strike back in the headlines this morning. we'll find out why next. and then ian poulter's in the building. attention golf fans ever where. >> look at that. every player's name. unbelievable. >> got to be careful. >> i don't want
the question about how do you keep the code without increasing the deficit. but it's a promising proposal that tax policy exports like because it is achievable. now, if you lump the deductions together and don't fight them one by one and have a cap, that is easier to get done. >> on that 17,000, a, do you think we're going to hear about it tonight? does that include things like charitable deductions, mortgage deductions? how far do you think that goes? >> reporter: yes, it does. >> 17,000 cap across the board. that is meaningful. that would have a huge impact on the real estate market, it would have a huge impact broadly. >> reporter: yes, i believe from what i was reading yesterday, and i haven't gotten a chance to delve into it that $17,000 level was set purposefully because people in the under $200,000 income category generally speaking don't have more than that, right? but it makes it easier to begin taking on deductions as you move up the scale. so i do think it's positive. i would expect him to get asked about it and, you know, if he starts sketching out a little bit how he would re
tomorrow. we know it's going to have a lot of deficits. >> what happened last week when the german high court made their decision in everyone thought, this is great. now the ecb can do what they need to do. everything's going to be good. that's not the way it is at all. >> i want to tell the ceo of i-cap is making it happen. they will ask for help, won't they? those conditions are being negotiated right now. >> at some point they have to. it's still that delay, that uncertainty. we've also had a very nice run here. we're over 20% above where we were a year ago. it's not natural to have these low pull backs from time to time. >> this 3% full back from 1475 to now is like a 3% pull back. not the end of the world, but certainly something the market needs to do in order to test the support. >> you told us in the last segment that your asset allocation broadly speaking is about 61% stocks, 39% bonds. the bonds scene is something of a safe haven play here. what about those who feel that the tremendous low yields we're seeing means we're in something of a bubble? artificial bubble, maybe, forc
, a trade that works for america, deficit reducti reduction, and being a champion for small business, which is not what the president has done. and as we get in the debates it will be critical to show the contrast between governor romney and the president. the good thing is wasserman schultz down played the president's expectations as expected by the democrats, but he is the gifted speaker. the problem is, he does not have the gift of a positive record to run on. the economy is in the toilet and t current news we have on informed policy is troubling. the administration knew this was a terrorist attack within the first 24 hours yet they continue to say this is the result of a video in a movie trailer, put ambassador rice out there being extremely dishonest with the american people. that's troubling. and those troops will come out in the debates. >> alice, we've gone to war with countries saying they were responsible for nerch when they really weren't. i'm talking about iraq. give the white house a little leeway here on figuring out exactly what's what to go with the facts. thursday power pan
not the kind of inconsistency that he can afford at this point given the deficits he faces. >> your thoughts, john. >> well, look, chris, i just think he's in an untenable position he and he has been all along. the bottom line on mitt romney is he's proud of his massachusetts health care law. there's part of him that wants to defend it, there's part of him that's always wanted to defend it, and he found himself running in a republican primary where he couldn't defend it forth rightly as i think what his heart would have wanted to do. so he twisted himentz up in a lot of knots. i think there's some theoretical way in which you could make a federalist argument but he hasn't made that argument consistently either. he should have stood up and said the individual mandate is a conservative policy. it was invented at the heritage foundation and embraced by conservatives as recently as a decade ago. co-have made the argument for pla health care and said that's what the conservative position was. he didn't have the guts to do that. he's ended up in this bizarre position where he's had to pirouette on
the question about who can handle the economy has changed. it used to be obama was suffering a big deficit next to romney with that. since several weeks ago, probably tied to the convention, those numbers have turned and all of a sudden the democratic brand with respect to the economy has become more popular than the republican brand. >> mourdock who has been a hardliner, he's been trying to embrace the moderate positions claiming he's more open to compromise, claiming he will protect social security and medicare. but this is not the same mourdock who defeated richard lugar in the primary. are richard lugar and others paying their price for the extremism? >> i would add to what sam said, part of the aftermath of 47%-gate. it's tough to make the argument you're best on the economy when you think you should only be working for half of the people on the economy, right? that's how the comments were perceived. to your question, ed, i want to add, this is not just having a trickle-down effect to other senate races. the only shot we have at electing a new woman governor is actually -- >> it's ticket-w
't believe you have to touch medicare to take care of the deficit or the debt. >> listen, it's a numbers issue right? i'm a numbers guy. used to be 40 years ago that you had two people in america working to pay for every one retiree. now it's basically, you know, one worker paying for 10 to 20 different retirees because we've got this horrific demographic shift, 7500 people turning 60 every day. you're right. the numbers are unsustainable. what was interesting about your chart was this. i'll tell you what. the president is glad the election is only 39 days away. because yesterday kind of quietly, i don't want to get wonky, we had dismal economic data. we referenced it at the top. durable goods was terrible. boeing sold only one aircraft in august. gdp was revised down. 25% of people, i can't remember the source of the poll, basically said they'll slow down spending because of the fiscal cliff issue. things are slowing down because people, smart viewers of "morning joe" and cnbc know that we're going to get the biggest tax hike in history if congress doesn't do something so the economy is
to use that money to reduce the budget deficit. i'm putting it back into medicare and i'm the guy running for president. >> well, what a miserable time he has. all he does is defend himself against paul ryan's budget and he put the guy on the ticket. >> chris, i remember when this happened. when you put ryan on the ticket, a lot of democrats said, okay, it's over, we've got it. and i was skeptical about that when they said it, and i think a lot of us who like to hear intellectual debates about policy said, great, fwring it on, let's have a big debate about the philosophy of government. down in florida they don't care about the fill loss pi. >> all politics a local. >> they want the program, they like the program, don't mess with the program. >> let's go to something really big because i like this guy so much. this is jim webb who is retiring as the senator from virginia. he's a democrat but a different kind of democrat. many people, including me, believe he's eviscerated romney with these words he spoke. remember what romney was saying, there's the takers and the makers out there, includi
% say reforming the tax code. 33% say reducing the federal deficit. 6% say health care. 15% say i don't really care. fascinating. >>> let's see what's coming up on street signs. mandy? >> okay. we're going to take a look at why oil prices are dropping for all the wrong reasons on street sign. yeah, we might get cheaper gas eventually, but at what cost to the global economy? >>> then, we're going to debate what is better for your money, an obama win or a romney win. >>> plus, the one thing that wall street wants to hear at tonight's debate. >>> and later on, american airlines says all the seats are fixed. >>> lots of things coming up at the top of the hour. back to you on "power lunch." >>> the world's top asset managers and investors are meeting today to discuss the economic landscape and how to navigate it. our david faber is with them at the barefoot economic summit in larue, texas. >> i've joined by founder, cio of golden tree house and management. they're in bank loans, they're in bond, distressed investments, private equity structured products. credit is the name of the game when
Search Results 0 to 49 of about 57 (some duplicates have been removed)

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